Financial and Purchasing Management Careers | Personal Financial Advisor (General)

Personal Financial Advisor (General)

Career Area: Finance

Occupation Group: Investment Specialists

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Personal Financial Advisor (General) earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $63,287

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $63,983

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Advises clients on financial plans and investment strategies. Discusses the client's financial objectives, researches and recommends investment options, advises on tax strategies, monitors client accounts. May be licensed to buy and sell financial products such as stocks and bonds.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

LocationGrowth
North Carolina1254+22.6%
Nationwide38408+14.9%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Personal Financial Advisor (General) is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.
  • Teamwork / Collaboration: Experience working in collaborative efforts with a team to achieve a common goal or to complete a task in the most effective and efficient way.
  • Building Effective Relationships: Building relationships is about your ability to identify and initiate working relationships and to develop and maintain them in a way that is of mutual benefit to both yourself and the other party. Good relationships are the key to getting things done and are essential when your success is dependent on others.
  • Organizational Skills: Experience with a systematic process of structuring, integrating, co-ordinating task goals, and activities to resources in order to attain objectives.

Specialized Skills

These skills are specific to working in this career:

  • Financial Advising: Working experience of Financial Advising. A financial advisor provides financial advice or guidance to customers for compensation. Financial advisors can provide many different services, such as investment management, income tax preparation and estate planning.
  • Customer Service: Working experience with the provision of service to customers before, during and after a purchase.
  • Sales: Experience selling products or services to consumers.
  • Securities: Working experience of Securities. A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction
  • Wealth Management: Wealth management as an investment-advisory discipline which incorporates financial planning, investment portfolio management and a number of aggregated financial services.

Distinguishing Skills

Any Personal Financial Advisor (General) that possesses the following skills will stand out against the competition:

  • Investment Strategy: Working experience designing a set of rules, behaviors or procedures to guide investors' selection of an investment portfolio.
  • Investment Recommendations: Working experience of Investment Recommendations. Investment advice refers to any recommendations regarding an investor's portfolio. Many professionals, including financial planners, bankers and brokers, can provide investors with investment advice that is specific to their financial situation and short- and long-term financial goals.
  • Retirement Planning: Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement.
  • Core banking: Working experience of Core banking. Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.
  • Annuities: Working experience of Annuities. An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees. Annuities are created and sold by financial institutions, which accept and invest funds from individuals and then, upon annuitization, issue a stream of payments at a later point in time.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

  • Life Insurance Sales: Life insurance (or life assurance, especially in the Commonwealth of Nations), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years48%
3 to 5 years42%
6 to 8 years6%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Financial Advisor
  • Entry Level Financial Advisor
  • Us Financial Advisor
  • Financial Professional
  • Financial Advisor Development Program

Similar Occupations

If you are interested in exploring similar occupations, you may want to research the following job titles: